Details

DeMark Indicators

Bloomberg Financial, Band 40 1. Aufl.

von: Jason Perl, Thomas R. DeMark
24,99 €
Verlag:	Wiley
Format:	PDF
Veröffentl.:	03.06.2010
ISBN/EAN:	9780470883341
Sprache:	englisch
Anzahl Seiten:	224

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Beschreibungen

Titelbeschreibung

Silver Medal Winner, Investing Category, Axiom Business Book Awards (2009) Winner: Book Series Cover Design, The Bookbinders Guild of New York/2009 New York Book Show Awards "Long a secret weapon for the hedge-fund elite," says Trader Monthly, the DeMark Indicators are now used by more than 35,000 traders. This book provides an easy-to-follow system for using the indicators to identify market turns as they happen. Author Jason Perl gives a concise introduction to thirty-nine of the DeMark Indicators, and then shows how to combine the indicators and time frames to achieve a higher probability of trading success. Thomas R. DeMark, the creator of the DeMark Indicators and one of the most well-respected practitioners of technical analysis wrote the Foreword to this book. This is the second book in the Bloomberg Market Essentials: Technical Analysis series, which covers the key elements of the most widely used technical analysis tools.

Inhaltsverzeichnis

Foreword, by Tom DeMark xv Acknowledgments xix Introduction xxi Author’s Note xxv About DeMark Indicator Trademarks xxvii 1 TD Sequential: Defining the Trend and Identifying Exhaustion Points 1 TD Setup 2 Bearish TD Price Flip 2 TD Buy Setup 3 Interruption of a TD Buy Setup 4 Completion of the First Phase of TD Sequential 4 TD Sell Setup 4 Bullish TD Price Flip 4 TD Sell Setup 4 Interruption of a TD Sell Setup 4 Using TDST Levels to Determine the Underlying Trend Bias 5 TD Sequential vs. More Conventional Momentum Indicators 6 TD Setup Scenario I: Consolidation/Reversal 6 TD Setup Scenario II: Confirmed Trend Extension 8 TD Buy Setup “Perfection” 9 TD Buy Setup “Perfection” 11 Trading a TD Buy Setup 12 Perl’s Rules for Trading TD Buy Setups Objectively 13 Risk Management: Calculating the TD Risk Level for Trading a TD Buy Setup 14 TD Sell Setup “Perfection” 14 Trading a TD Sell Setup 14 Perl’s Rules on When to Initiate a Short Position Following a Completed TD Sell Setup 16 Risk Management: Calculating the TD Risk Level for a TD Sell Setup 17 TD Setup vs. TD Sequential Countdown 17 To Initiate TD Buy Countdown 17 To Complete a TD Buy Countdown 19 TD Buy Countdown Cancellation 21 Filters That Cancel a Developing TD Buy Countdown 21 TD Buy Countdown Cancellation and Recycle Qualifiers 21 TD Buy Countdown Cancellation Qualifier I 21 TD Buy Countdown Cancellation Qualifier II (a TD Buy Setup Within a TD Buy Setup) 22 TD Buy Countdown Recycle Qualifier 22 An R Will Appear 22 Entering a Long Position 24 Two Ways to Enter a Long Position 24 Alternative Strategy for Entering a Long Position 25 Requirements for a TD Camouflage Buy 25 Requirements for a TD Clop Buy Signal 25 Requirements for a TD Clopwin Buy Signal 26 Requirements for a TD Open Buy Signal 26 Requirements for a TD Trap Buy Signal 26 TD Buy Termination Count 26 Risk Management: For a TD Buy Countdown 26 Frequently Asked Questions 28 Requirements for Validation of a TD Sequential 9-13-9 Buy Count 29 Risk Management: For TD Sequential 9-13-9 31 TD Sell Countdown 31 Requirement for a TD Sell Countdown 31 To Complete a TD Sell Countdown 31 TD Sell Countdown Cancellation 34 Filters That Will Cancel a Developing TD Sell Countdown 34 TD Sell Countdown Cancellation and Recycle Qualifiers 34 TD Sell Countdown Cancellation Condition I 34 TD Sell Countdown Cancellation Condition II (a TD Sell Setup Within a TD Sell Setup) 35 TD Sell Countdown Recycle Qualifier 35 Entering a Short Position Following a Completed Thirteen TD Sequential Sell Countdown 35 Alternative Strategy for Entering a Short Position 36 TD Camouflage Sell Signal Requirements 37 TD Clop Sell Signal Requirements 38 TD Clopwin Sell Signal Requirements 38 TD Open Sell Signal Requirements 38 TD Trap Sell Signal Requirements 38 TD Sell Termination Count 38 Risk Management: For a TD Sell Countdown 39 Frequently Asked Questions 39 Requirements for Validating a TD Sequential 9-13-9 Sell Count 41 Risk Management: For a TD Sequential 9-13-9 Sell Count 41 Combining Time Frames for Additional Confidence 43 Frequently Asked Questions about TD Sequential 46 Risk Management for TD Sequential 49 TD Sequential: Recommended Settings 57 TD Aggressive Sequential 58 TD Aggressive Sequential 58 2 TD Combo 59 TD Combo Buy Setup 59 Requirements for a TD Combo Buy Setup 60 Differences in Buy Countdown: TD Combo vs. TD Sequential 60 TD Combo Buy Countdown 60 Requirements for a TD Combo Buy Countdown Version I (Strict Version) 60 Requirements for a Td Combo Buy Countdown Version ii (Less-Strict Version) 61 To Enter a Long Position 62 Risk Management: For Entering a TD Combo Buy Countdown Long Position 62 Requirements for a TD Combo Sell Setup Version I 62 Differences in Sell Countdown: TD Combo vs. TD Sequential 63 Requirements for a TD Combo Sell Countdown Version I (More Strict) 64 Requirements for a Td Combo Sell Countdown Version II (Less Strict) 65 Risk Management: Calculating the Risk Level of a Short Position Following a TD Combo Sell Countdown 65 TD Combo Version I: Recommended Settings 66 3 TD D-Wave 69 The Underlying Elliott Wave Principle 70 Elliott Wave Basics 71 DeMark’s Mechanized Version of Elliott Wave 73 The Time Aspect of the TD D-Wave Requirements 74 TD D-Wave Requirements for Wave 1 74 TD D-Wave Requirements for Wave 2 74 TD D-Wave Requirements for Wave 3 74 TD D-Wave Requirements for Wave 4 75 TD D-Wave Requirements for Wave 5 75 TD D-Wave Requirements for Wave A 75 TD D-Wave Requirements for Wave B 76 TD D-Wave Requirements for Wave C 76 Additional Qualifying Rules for the Application of the TD D-Wave Indicators for an Uptrend 76 Additional Qualifiers for the Application of the TD D-Wave Indicators for a Downtrend 77 Calculating TD D-Wave Projections 78 Bull Market Price Projections 78 The Ultimate Targets for TD D-Waves 5 and C 80 Upside Target for TD D-Wave 5 80 Downside Target for Downside TD D-Wave C 80 Bear Market Price Projections 80 Using Closing Prices for Price Projections 82 TD D-Wave 2: Shallow vs. Deep 82 To Calculate the Objective for TD D-Wave 5 82 To Calculate TD D-Wave C 82 To Determine the Eventual Downside Objective for TD D-Wave 5 83 To Determine the Upside Objective for TD D-Wave C 83 TD D-Wave Frequently Asked Questions 83 The Relative Strength Index 83 TD D-Wave: Recommended Settings 89 4 TD Lines 91 The Three TD Demand Line Qualifiers 94 TD Demand Line Qualifier Condition One 94 TD Demand Line Qualifier Condition Two 95 TD Demand Line Qualifier Condition Three 96 Calculating the Objective for a TD Demand Line Break 96 To Determine the Objective for a Qualified Downside Violation 96 Exiting a Short Position Using TD Demand Line 97 TD Supply Line Qualifiers 97 Initiation of a Fresh Long Position Qualifier One 98 Initiation of a Fresh Long Position Qualifier Two 99 Initiation of a Fresh Long Position Qualifier Three 100 Calculating the Objective for a TD Supply Line Break 100 TD Supply Line and Exiting a Long Position 100 TD Lines: Recommended Settings 101 5 TD Retracements 103 Determining References for Projecting TD Relative Retracements 103 Three Conditions for Validating a TD Relative Retracement Level: Only One Needs To Be Satisfied for a Qualified Break 106 Conditions That Invalidate an Upside Break of a TD Relative Retracement Level 107 Conditions That Qualify a Downside Break of a TD Relative Retracement Level 107 To Exit a Short Position After a Qualified Downside Break of a TD Relative Retracement Level 108 TD Relative Retracement: Recommended Settings 108 More Retracement Scenarios Upside Violations 109 Retracement Scenarios Downside Violations 109 Another Reversal/Consolidation Pattern 109 TD Absolute Retracement 110 Recommended Settings for TD Absolute Retracement 110 Constructing the TD Retracement Arc for Upside Retracements 111 Constructing the TD Retracement Arc for Downside Retracements 112 6 TD Trend Factor and TD Propulsion 115 TD Trend Factor 115 To Determine a Top from Which to Calculate 116 To Determine a Bottom from Which to Calculate 118 Frequently Asked Questions 120 TD Trend Factor – Recommended Settings 121 TD Propulsion 121 Defining the Initial Thrust Level for an Advance 122 Defining the Initial Thrust Level for a Decline 122 TD Propulsion: Recommended Settings 123 7 TD Oscillators 125 TD Range Expansion Index (TD REI) 125 In Case You Need Prompting on the RSI 125 TD REI Formula 128 To Establish a Value for the TD REI 129 Using the TD REI to Identify Prospective Reversals 129 Using the TD POQ to Filter TD REI Signals Further 130 For the Mathematicians 130 TD REI: Recommended Settings 132 TD DeMarker I and TD DeMarker II 133 TD DeMarker I 133 Other Conditions That Must Be Satisfied for a Prospective Buy 134 Other Conditions That Must Be Satisfied for a Prospective Sell 135 TD DeMarker I: Recommended Settings 135 TD DeMarker II 136 TD DeMarker II: Recommended Settings 137 TD Pressure 137 The OBV Indicator 137 TD Pressure: Recommended Settings 139 TD Rate of Change (TD ROC) 140 To Determine the TD ROC 140 TD ROC: Recommended Settings 140 TD Alignment 141 TD Alignment 141 To Produce the Composite TD Alignment Indicator 142 TD Alignment: Recommended Settings 142 8 TD Moving Averages 145 To Identify a Prospective Bullish Trend 146 Plotting a Bullish TD Moving Average I 146 To Identify a Prospective Bearish Trend 146 Plotting a Bearish TD Moving Average I 147 TD Moving Average I: Recommended Settings 149 9 TD Range Projection, TD Range Expansion Breakout, and TD Channels 153 TD Range Projection 153 The Three Possible Scenarios and How to Calculate Them 154 TD Range Expansion Breakout (TD REBO) 157 To Apply TD REBO to Daily Price Bars and Use the Current Price Bar’s Open as the Base 158 TD Channels 160 TD Channel I 161 TD Channel II 162 10 Short-Term Indicators: TD Differential, TD Reverse Differential, and TD Anti-Differential 165 TD Differential 165 Conditions Necessary to Produce a TD Differential Up Arrow 165 Conditions Necessary to Produce a TD Differential Down Arrow 166 TD Reverse Differential 167 Conditions Necessary to Produce a TD Reverse Differential Down Arrow 167 Conditions Necessary to Produce a TD Reverse Differential Up Arrow 169 TD Anti-Differential Up Arrow 169 Conditions Necessary to Generate a TD Anti-Differential Up Arrow 170 TD Anti-Differential Down Arrow 170 Conditions Necessary to Generate a TD Anti-Differential Down Arrow 170 11 TD Waldo Patterns 171 TD Waldo Pattern Two 171 TD Waldo Pattern Three 172 TD Waldo Pattern Four for a Prospective Bottom 172 TD Waldo Pattern Four for a Prospective Top 173 TD Waldo Pattern Five for a Prospective Top 173 TD Waldo Pattern Five for a Prospective Bottom 173 TD Waldo Pattern Six for a Prospective Bottom 173 TD Waldo Pattern Six for a Prospective Top 174 TD Waldo Pattern Seven for a Prospective Short-Term Reversal 174 TD Waldo Pattern Eight 174 12 Putting It All Together 175 The UBS FX Risk Index Components 179 13 Learning the DeMark Indicators 181 Using TD Cursor Commentary 182 TDRS <GO> 183 Index 187

Autorenportrait

Jason Perl joined the Multi-Asset Sales Team at UBS in June 2009 to identify turning points in markets for the Bank's largest clients. He advises CIO's and Heads of Trading at macro hedge and sovereign wealth funds as well as tactical asset allocation teams on market timing, using the DeMark indicators exclusively. Previously he was Global Head of Fixed Income, Currencies and Commodities Technical Strategy at UBS. He joined the group in 2000 and ran it from 2004-2009. Jason and his team provided both short-term and medium-term trading strategies to central banks, hedge funds, institutional investors and wealth managers around the world as well as general and specialist educational technical analysis training. Prior to joining UBS, he was an independent consultant advising proprietary desks and hedge funds on short-term trading strategies as well as helping institutional investors with trading system design and development. He was also a technical strategy adviser to a number of large financial data vendors and a contributing editor for Futures & Options World, FX & MM, Petroleum Argos and the International Petroleum Exchange's (IPE), Pipeline Magazine. Jason's area of technical expertise is the DeMark indicators, which he has been using for the past nineteen years. A portion of the proceeds received by the author for this book goes to the Robin Hood Foundation. Robin Hood changes fates and saves lives in New York City by applying investment principles to charitable giving and supporting the most effective poverty-fighting programs in all five boroughs of New York City. For more information, go to: www.robinhood.org

Back cover copy

The Best Guide to Differentiating Between Trading Ranges and Trend Exhaustion "Tom DeMark, the man whose work inspired this book, is a unique, interesting, and oft-times iconoclastic technical analyst. Simply put, he thinks about the markets differently from the way you or I do. So why should you read this book? Because, having read it, you will almost certainly think about the markets and technical analysis differently." —John Bollinger, CFA, CMT, www.BollingerBands.com "Jason Perl has taken the playbook from the market's John Wooden, Tom DeMark, and translated it engagingly in a format that traders of all levels will appreciate. As one who has used these indicators for more than twenty years, I too am appreciative of Jason's clarity." —Peter Borish, Chairman and CEO, Computer Trading Corporation "Jason Perl has created a trading primer that will help both the professional and the layman interpret the DeMark indicators, which I believe represent the most robust and powerful methods to track securities and establish timely investment positions. Think of DeMark Indicators as the Rosetta stone of market-timing technology." —John Burbank, Founder and CIO, Passport Capital "Having observed his market calls real time over the years, I can say that Jason Perl's application of the DeMark indicators distinguishes his work from industry peers when it comes to market timing. This book demonstrates how traders can benefit from his insight, using the studies to identify the exhaustion of established trends or the onset of new ones. Whether you're fundamentally or technically inclined, Perl's DeMark Indicators is an invaluable trading resource." —Leon G. Cooperman, Chairman, Omega Advisors "Jason Perl is the trader's technician. DeMark indicators are a difficult subject matter, but Jason shows simply how the theory can be applied practically to markets. Whether you're day-trading or taking medium-term positions, using the applications can only be of increased value." —David Kyte, Founder, Kyte Group Limited The Bloomberg Market Essentials™: Technical Analysis Series is the fast-track resource that gives you the essentials on keytechnical analysis tools.

Unpublished endorsement

“Having observed his market calls real time over the years, I can say that Jason Perl’s application of the DeMark Indicators distinguishes his work from industry peers when it comes to market timing. This book demonstrates how traders can benefit from his insight, using the studies to identify the exhaustion of established trends or the onset of new ones. Whether you’re fundamentally or technically inclined, Perl’s DeMark Indicators is an invaluable trading resource.” —Leon G. Cooperman Chairman, Omega Advisors “Tom DeMark, the man whose work inspired this book, is a unique, interesting, and ofttimes iconoclastic technical analyst. Simply put, he thinks about the markets differently from the way you or I do. So why should you read this book? Because, having read it, you will almost certainly think about the markets and technical analysis differently.” —John Bollinger, CFA, CMT www.BollingerBands.com “Jason Perl is the trader's technician. DeMark Indicators are a difficult subject matter, but Jason shows simply how the theory can be applied practically to markets. Whether you're day-trading or taking medium-term positions, using the applications can only be of increased value.” —David Kyte, Founder Kyte Group Limited “Jason Perl has taken the playbook from the market’s John Wooden, Tom DeMark, and translated it engagingly in a format that traders of all levels will appreciate. As one who has used these indicators for more than twenty years, I too am appreciative of Jason’s clarity.” —Peter Borish Chairman and CEO, Computer Trading Corporation “Jason Perl has created a trading primer that will help both the professional and the layman interpret the DeMark Indicators, which I believe represent the most robust and powerful methods to track securities and establish timely investment positions. Think of DeMark Indicators as the Rosetta stone of market-timing technology.” —John Burbank Founder and CIO, Passport Capital